The US government is expanding the blacklist of Chinese companies that US investors are no longer allowed to do business with. The companies are said to have close ties with the Chinese military. A total of 59 technology and security companies are now on the list. The ban is due to come into effect on August 2.
President Biden thus continues the harsh China policy of his predecessor Trump. It started with the blacklist. The White House said the investment ban is “to make sure Americans don’t fund China’s military industry.”
One of the companies on the list is telecom giant Huawei, which has been under fire from Western countries for some time. The company is accused of spying for the Chinese government. Therefore, several countries have decided that important communication equipment can no longer be supplied by Huawei. In the Netherlands, the Chinese company banned from 5G networks.
The Biden administration says more Chinese companies are likely to be blacklisted in the future. Beijing has already reacted angrily to the latest US sanctions. The Ministry of Foreign Affairs threatens to take countermeasures “to protect the rights and interests of Chinese companies”.
–
